IPB gets permit extensions off Australia

May 24, 2017

IPB Petroleum’s applications for a 12-month suspension and extension to the WA-485-P and WA-471-P exploration permits' work program has been approved by the Commonwealth-Western Australia Joint Authority.

The firm has been granted a twelve-month suspension to the permit Year 2, and the corresponding extension to subsequent permit years’ work program for both of its 100% held WA-485-P and WA-471-P exploration licenses in the Browse basin, offshore North West Australia

IPM said the current work program for WA-485-P now provides a further 12 months for it to commence the acquisition of a new 900sq km 3D seismic survey in accordance with the Year 2 permit activities.

Also as a result of the extension of subsequent years’ work program, it now has additional time to satisfy future commitments including the permit Year 3 exploration wells which must commence before 13 May 2019.

Similarly, the current program for WA-471-P provides a further 12 months for IPB to commence the acquisition of a new 600sq km 3D seismic survey in accordance with the Year 2 permit activities.

As a result of the extension of subsequent years’ work program, the firm has additional time to satisfy future commitments including the permit Year 3 exploration well before 3 May 2019. 



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